Fall is a beautiful time of year. As the leaves change colour, pumpkin patches open, and people enjoy spiced lattes and sweater weather, it’s only fitting to add a little fall flair to your home as well. And, seasonal décor doesn’t have to be difficult or break the bank. 

Just in time for the Thanksgiving long weekend, here are some simple tips to warm up your home and a touch of autumn to your style:  

Warm up your front entrance

Adorn the front of your home with fall-inspired welcome mats, wooden crates, and squash in various shapes and sizes. The beauty of fall is that there is no symmetry needed. Scatter different sized boxes, fall signs and a mix of small and large decorative pumpkins (real or fake). Hang a fall wreath made of twigs, and add a brown, orange or burgundy ribbon for a pop of colour. 

Decorate your dining space

Beautify your home indoors with orange and earthy tones. Add a table runner, some coloured napkins on the table, and coordinating candles in the scents of the season. You can elevate your seasonal look with small squashes and gourds as centerpieces. And, don’t be afraid to bring the outside in… Design your own table arrangement with twigs, leaves and pine cones you collect. 

Add a cookie and coffee station

Nothing says fall like warm beverages and treats while enjoying the crisp air! Impress your guests with a coffee and tea station. Set up cups, specialty teas displayed in a glass bottle, hot coffee and flavoured syrups in a section of your dining room or kitchen. Use risers or wooden trays to give the display some complexity. Add a cookie jar or cake stand with some fall goodies such as butter tarts, chocolate chip cookies, or brownies. You can also have a seasonal fruit basket with apples and pears. 

Make it cozy

Celebrate fall with comfort by adding aromatic autumn candles… Think cinnamon, vanilla, pumpkin spice scents. Light them in the evenings for ambiance. Add fall-themed throw cushions, and add an earthy-toned warm blanket on your couch (check out Pinterest for inspiration on how to arrange pillows and blankets).

These simple tricks can elevate your home decor and make it feel as warm as your pumpkin or apple pie this season!

Investing in real estate can be a rewarding experience, and can result in both personal and financial growth. If you’re considering getting started, the following five tips will help you begin thinking strategically. 

1. Assess Your Financial Situation

This is the number one tip – and for good reason! Real estate investing is all about your finances and getting them in order will help you qualify for the best loans at the lowest available rates. The first step is to save up for the down payment for your first investment property. 

While you’re saving, do your best to pay down or consolidate any loans you already have. You’ll also want to look at your credit score and improve it, if possible. Exploring your financial situation is best done along with a mortgage specialist that you know and trust. 

2. Explore Your Risk Tolerance

All investments carry risk. Generally speaking, the rate of return you get on a particular investment is directly related to the risk level of that investment. That is the principle behind the fact that Guaranteed Investment Certificates (GICs) generally have a lower rate of return than a Mutual Fund, for example. The GIC carries nearly no risk of financial loss, and therefore has a low return on investment.

Real estate investing follows this same principle. Often first-time investors fail to truly explore this fact. Real estate has been appreciating across most of the country for a number of years, and people tend to forget that the continuing of that trend is not guaranteed. With an open mind and open eyes, you want to explore the different types of real estate investment, as well as the different markets you can invest in, and develop a plan that matches your individual tolerance for risk. 

3. Create a Real Estate Investing Plan

Now that you know your financial situation and your risk tolerance, you need to develop a clear investing plan – in writing. This plan should be the foundation for all your real estate buying and selling decisions. 

Are you going to invest in multi-family properties (like a duplex, triplex or small apartment building) with the goal of obtaining a positive cash flow? Perhaps you want to buy houses, renovate them, and flip them for a profit… Wherever the answers lead you, your plan should include the criteria for how and when you buy and sell. 

4. Build Relationships with Trusted Professional Advisors

Building relationships with the right people is an integral part of building a successful business. This means working with people you know and trust. If you’re going to be successful in the real estate investing business, you are going to want to build ongoing relationships with real estate agents, mortgage specialists, property managers, building contractors, etc.   

By investing your time into relationships with people you trust, who are more knowledgeable than you in their respective fields, you can be confident that you are getting the best advice and learning about the best opportunities.  

5. Start Small and Grow Big

Perhaps the biggest risk in real estate investing is overextending yourself financially. You should remain aware that things may not always go according to plan. Markets change, interest rates fluctuate, and vacancies happen. When you are setting out in the real estate investing world, begin small and build a solid foundation for your business as you learn the ropes. Over time, and by following your plan, you can grow your business in the safest way possible. 

The final days of summer are here and August has historically been one of the slowest months for Real Estate, as everyone is busy on vacation, summer barbecues and simply enjoying the gorgeous warm weather.

 According to the July Market Watch Report, market conditions remain far more balanced in July 2022 compared to a year earlier. Inventory is increasing and buyers are benefiting from a catalogue of choices. With a balanced market, we will see a return to more normal market conditions. Buyers will no longer be competing for homes at the level they were and conditions regarding financing and inspection will return as a normal addition to any offer. Moreover, Buyers are not being pressured to make any immediate decisions with tactics such as holding off on offers and bidding wars for homes. 

To most experienced Realtors, the return to a more balanced market is a relief.  It has  been a whirlwind over the past couple of years with unprecedented price increases which escalated prices to an unrealistic level. First time homebuyers could no longer afford their dream home and as interest rates increase, this will prove to be a continuing challenge.

With significant increases to lending rates in a short period, there has been a shift in consumer sentiment and some buyers are definitely waiting it out to see if the prices will drop further; however, with interest rate increases expected Sept. 7th, any further decline in prices may cancel out any gains if the interest rates increase further.   

 My advice to anyone that is thinking of selling at this time, is to price your home according to the most recent comparable sales in your neighbourhood. You can not base your expectations on selling prices from 3 months ago and as prices continue to drop, you will need to be priced right for the current market conditions. 

If you would like to get an idea of what your house is currently valued at, please don't hesitate to reach out and I would be happy to provide you with an up-to-date value.  

Though mortgages can last for decades, you will periodically need to renew your mortgage when your term ends. Renewing is a regular part of having a mortgage, and it allows you and your lender to periodically update your mortgage to fit current interest rates and financial goals.

 Though renewing is a standard part of a mortgage process, if it is your first time or you are looking to get the best deal, you may feel some pressure to ensure everything goes well and get the best rates. Especially for those who struggle with deadlines, a mortgage renewal may seem intimidating as the clock is ticking to make a deal with a lender.

Luckily, not only is a mortgage renewal fairly easy to process if you want it to be, but many lenders will offer a generous grace period in which you can start an early mortgage renewal. By renewing early, you get time to shop around to new lenders, lock in a lower rate, and avoid the stress of impending deadlines.

If you've got a mortgage renewal coming up, read on to find out all you need to know about early renewals and how to get the best rate for your mortgage.

How early can I renew my mortgage?

When you sign on for your mortgage, you will agree to a certain term length with your lender. This will determine, in general, how soon you can renew your mortgage. For example, if you take a 5-year term, you don't even need to think about renewing that many years. However, once you reach the end of your term, you must consider your options for renewing, and doing so early can be a huge advantage.

Despite the term length being a certain number of years, you may not have to wait that long to renew your mortgage. Lenders understand that deciding how you want to renew is important, so they will often let lenders start their renewal early to have some extra time to get everything worked out.

Ending or modifying your mortgage early would incur a fee, but when it comes to mortgage renewals, you can often start completing the process a few months before your term ends. The amount of time offered to renew early will vary between lenders, but generally, you can expect to have about 90 to 180 days to renew early. In some cases, your lender will not offer you an option to renew early at all.

How will I know it is time to renew?

When you first sign your mortgage, you will decide on a term length that will determine how long you have until you need to renew. At this time, the lender may also tell you your options for early renewal. Luckily if you have forgotten over the interim years, your lender will usually reach out at least 21 days before your renewal date to inform you that the time has come.

However, if you intend to shop around to other lenders, 21 days may not be enough time. Do your best to remember your renewal timeline so you can get as much time as possible to complete your renewal. Consider making a note on your calendar or setting a digital reminder for when the time comes

Is there a downside to renewing early?

Just because you can renew early, does that mean you should? Deciding to renew your mortgage early does not come without some critical considerations.

For example, your lender may offer you an early renewal with predetermined terms making it easy for you to renew without a hassle. They do this for convenience but also so that they can discourage you from looking elsewhere.

You must remember that your mortgage renewal process is a negotiation, so the first offer your lender gives you will rarely be the best available. While renewing right away may be tempting, putting in a bit more work to negotiate with your lender or compare other lenders' rates may net you a lower interest rate and save you money.

When interest rates are falling, renewing as late as possible is in your best interest to get a lower rate. On the other hand, an environment where rates are on their way up, such as we are currently seeing, may be one of the best times to renew early. Interest rates can change significantly in the three or four months you have to renew. Locking in a rate as early as possible can save you a lot of money down the line.

What happens if you miss a renewal date?

On the other side, you may find yourself in a case where you have missed your mortgage renewal date. This may be due to a mortgage renewal denial or simply negligence on your part.

In many cases, your lender will automatically renew your mortgage at a specific date if you take no action. While this may sound easy, you will rarely get the best terms in this arrangement and are setting yourself up to pay more than you need to.

If your mortgage is not auto-renewed and you miss your renewal date, you should probably contact your lender as soon as possible to see if you can remedy the issue. Otherwise, you will be unable to continue your mortgage and will need to pay off your mortgage in full, sell your home or refinance.

Things to keep in mind when renewing your mortgage

When it comes time to renew your mortgage, you have an excellent opportunity to re-evaluate your needs and adjust your mortgage accordingly. This may include reducing your monthly mortgage payments or working to repay your mortgage sooner. If you want to make the most of your renewal, here are some things to keep in mind.

First, you should take account of your financial state so you know what you can afford for your home. Has your income gone up since your last term started? You may want to take on higher payments. On the other hand, you may want to look for a lower rate to save more on your monthly payments to help cover other costs. You should also consider factors that may make it difficult to get a favourable renewal, such as a damaged credit score, and keep these in mind when shopping around.

Next, you should try to begin looking around as early as possible to give yourself plenty of time to find the best option for you. Ask your current lender about what rates they can offer, and compare these with other lenders. Lenders are eager for your business and will happily share their rates with you. You should seek out as many lenders as possible for the best possible options.

 If you are looking at your renewal as an opportunity to improve your mortgage terms, it is very rarely in your interest to take the first option your current lender offers or to take the automatic renewal. Even if you don't plan to switch lenders, you should always try to negotiate for a lower rate with your current lender.

If you are in a rising rate environment, you can also ask a lender for a rate hold. If you suspect rates will increase soon, you can lock in a good rate before they increase. Usually, a rate hold will only last for a few months, so be sure to complete your renewal in time to take advantage of this option.

You may also want to change more than just your interest rate at the end of your term. In this case, a refinance may be a good option for you. Refinances can incur a fee if they are used too early, but when your mortgage comes up for renewal, you may be able to refinance with little or no financial penalty.

With a refinance, you essentially pay off your existing mortgage with a new one. This can allow you to modify almost all the terms of your mortgage and take out some extra money from your equity.

Finally, to make the most of your new mortgage term, you should consider working with a mortgage broker. Not only do they have access to a wide range of lenders, but their relationships with these lenders can help them to negotiate an even better rate on your behalf. In many cases, you will not even need to pay for their service as lenders will cover the costs with a finders fee once you sign your mortgage.